Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $189.96, for a total value of $1,509,802.08. Following the sale, the director now owns 413,296 shares in the company, valued at approximately $78,509,708.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Scott Farquhar also recently made the following trade(s):

• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.00, for a total value of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.14, for a total value of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.81, for a total value of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88.
• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $143.54, for a total value of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $178.96, for a total value of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.91, for a total value of $1,398,132.68.

Atlassian Stock Performance

Shares of Atlassian stock traded down $0.80 during trading hours on Thursday, reaching $188.55. The company had a trading volume of 1,213,305 shares, compared to its average volume of 1,787,250. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The business has a fifty day simple moving average of $162.91 and a 200 day simple moving average of $171.79. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $49.03 billion, a PE ratio of -161.32 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned ($0.21) earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of recent research reports. Mizuho raised their target price on Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Barclays decreased their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Scotiabank decreased their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group increased their price target on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.12.

Institutional Investors Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. American International Group Inc. boosted its stake in Atlassian by 3.1% during the fourth quarter. American International Group Inc. now owns 10,772 shares of the technology company’s stock valued at $2,562,000 after buying an additional 328 shares during the period. HighPoint Advisor Group LLC bought a new stake in Atlassian during the fourth quarter valued at $248,000. Mather Group LLC. bought a new stake in Atlassian during the first quarter valued at $113,000. Banque Cantonale Vaudoise boosted its stake in Atlassian by 30.3% during the first quarter. Banque Cantonale Vaudoise now owns 12,618 shares of the technology company’s stock valued at $2,463,000 after buying an additional 2,937 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in Atlassian by 4.4% during the first quarter. Park Avenue Securities LLC now owns 13,100 shares of the technology company’s stock valued at $2,556,000 after buying an additional 551 shares during the period. Institutional investors own 93.03% of the company’s stock.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.